One thing that I often find true but obviously have not researched is a quote someone told me recently...
"Those who can: do, and those who can’t: teach."
I’m very much convinced that people with the skills are busy enough with that and in many cases are too busy to even consider going to a teachers’ hourly rate (possibly follow a bunch of obligatory courses to teach them how to deal with students) and teach students how they do it. The education I’m in has two lecturers (out of, what, 250?) that I believe truly know what they are talking about and are able to pass that message on to students. Obviously I’ve not had class from all 250, but those two are the only ones that really pop up during convos with peers on how bad teachers are (".. except this and this one!").
Now, I’m *very* biased and this may not even be related to the web industry. I currently follow an education aimed at becoming a manager in a hospitality operation

But I’ve been doubting for the past half year and am probably going to stop doing that and just focus on my web dev business, and continue self-teaching like I learned how to do what I do. Perhaps do a course to get a formal education on paper in a year or two. But anyway - I’ve written a quite lengthy blog post about that subject that will be published on my new site due in about a month, so can’t tell everything yet
I guess when it comes to the web development industry - formal education is something like Internet Explorer 6.